The following is NAR Chief Economist Lawrence Yun’s thoughts on this morning’s (3/10/17) U.S. Bureau of Labor Statistics’ February jobs report: “The boosts to business and consumer confidence over the past few months is evidently leading to faster hiring. The 235,000 net new job additions in February and 2.3 million over the past year will
Last weekâs economic news was scant on housing related reports, but several employment reports were released along with the national unemployment rate, which dipped to 5.50 percent. This was a full point below the Federal Reserveâs original target rate of 6.50 percent. Construction spending was incrementally lower than expected and mortgage rates also fell.
Minutes of the Federal Open Market Committee (FOMC) meeting held October 28 and 29 were released Wednesday. The report suggests that the U.S. economy continues to improve, although the annual inflation rate remains near 1.50 percent and short of the committee's goal of 2.00 percent.
